Welcome to today’s real estate news roundup! In California, the development company California Forever faces challenges in its plan to build a new 400,000-person community due to zoning restrictions and environmental impact studies. Despite a delayed vote on zoning changes, the company remains committed to creating a flexible and walkable community. Meanwhile, the former site of the Sacramento Kings’ stadium is set to be transformed into a vibrant community with 2,500 homes, a medical campus, and retail space. In Texas, Ari Rastegar’s Rastegar Property Company has secured a $31.7 million construction loan to launch the first phase of Infinity Square, a master-planned community featuring single-family homes, apartments, and commercial space. Stay informed with the latest industry news by subscribing to our free daily newsletter.
California Forever’s Delayed Vote Shows How Hard It Is To Build a New City
California Forever, a development company planning a new 400,000-person community in Solano County, has announced a delay in its planned ballot initiative for zoning changes. Instead, the company will work with the county government to complete necessary environmental reviews and development agreements before seeking voter approval in 2026. This change in strategy aims to build a shared vision and create broad consensus for the future. The company’s vision for a flexible, walkable, and mixed-use community faces challenges due to zoning restrictions, environmental impact studies, and potential lawsuits. Despite the hurdles, California Forever remains committed to its project and hopes to give voters a clearer idea of what they are approving. To learn more about urban issues and development, sign up forRent Freefrom Reason and Christian Britschgi.
Former Sacramento Kings stadium site slated for 2,500 homes | Multifamily Dive
The former site of the Sacramento Kings’ stadium is set to be transformed into a vibrant community featuring 2,500 homes, a medical campus, a teaching hospital run by California Northstate University, a K-8 public school, parkland, and retail and commercial space. The city of Sacramento has established an enhanced infrastructure financing district to support the development, allowing for financing through increased property taxes on the site. Infrastructure development is expected to begin in 2025, with residential lots becoming available in the second quarter of 2026. Stay updated with the latest industry news by subscribing to the free daily newsletter.
Ari Rastegar Seals $32M Construction Loan for Launch of Texas Master Planned Community – Commercial Observer
Ari Rastegar’s Rastegar Property Company has secured a $31.7 million construction loan to kickstart the first phase of Infinity Square, a 318-acre master-planned community located between Austin and San Antonio. The project will feature 1,000 single-family homes, 1,400 apartments, commercial space, and an elementary school. Trez Capital provided the loan, enabling Rastegar to activate their ambitious plans and construct the initial phase of the development. Infinity Square follows a complex zoning approval process that involved collaboration with city officials to incorporate a school and green spaces. With multiple projects in Texas and Arizona, Rastegar Property Company continues to contribute to the Sun Belt’s commercial real estate landscape. Stay updated on industry news by subscribing to the free daily newsletter.